One of the world's leading cycling magazine reviews hundreds of bicycles throughout the year. Their "Road-Race" category contains reviews of bikes used by riders primarily interested in racing. One of the most important factors in selecting a bike for racing is the weight of the bike. The ollowing data show the weight (pounds) and price ($) for 10 racing bikes reviewed by the magazine. Brand Weight Price ($) 17.8 FELT F5 2100 PINARELLO Paris 16.1 6250 ORBEA Orca GDR 14.9 8370 EDDY MERCKX EMX-7 15.9 6200 BH RC1 Ultegra 17.2 4000 BH Ultralight 386 13.1 8600 CERVELO S5 Team 16.2 6000 GIANT TCR Advanced 2 17.1 2580 WILIER TRIESTINA Gran Turismo 17.6 3400 SPECIALIZED S-Works Amira SL4 14.1 8000 a. Use the data to develop an estimated regression equation that could be used to estimate the price for a bike given the weight. If required, enter hegative values as negative numbers. Price = + Weight (to whole number) p. Compute r2. (to 4 decimals) Did the estimated regression equation provide a good fit? The estimated regression equation provided a Select your answer - fit. % of the change in - Select your answer - v can be explained by the regression equation (to 2 decimals). c. Predict the price for a bike that weighs 15.7 pounds. (to whole number)
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
![One of the world's leading cycling magazine reviews hundreds of bicycles throughout the year. Their "Road-Race" category contains reviews of
bikes used by riders primarily interested in racing. One of the most important factors in selecting a bike for racing is the weight of the bike. The
following data show the weight (pounds) and price ($) for 10 racing bikes reviewed by the magazine.
Weight Price ($)
17.8
Brand
FELT F5
2100
PINARELLO Paris
16.1
6250
ORBEA Orca GDR
14.9
8370
EDDY MERCKX EMX-7
15.9
6200
BH RC1 Ultegra
17.2
4000
BH Ultralight 386
13.1
8600
CERVELO S5 Team
16.2
6000
GIANT TCR Advanced 2
17.1
2580
WILIER TRIESTINA Gran Turismo
17.6
3400
SPECIALIZ
S-Works Amira
14.1
8000
a. Use the data to develop an estimated regression equation that could be used to estimate the price for a bike given the weight. If required, enter
negative values as negative numbers.
Price
Weight (to whole number)
b. Compute r².
(to 4 decimals)
Did the estimated regression equation provide a good fit?
The estimated regression equation provided a
Select your answer - V fit.
% of the change in
Select your answer - V can be explained by the regression equation (to 2 decimals).
c. Predict the price for a bike that weighs 15.7 pounds.
(to whole number)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd36b6842-f013-4a5d-8d88-3ce050696fab%2F6583bcb4-8d18-46ac-b4f9-2550f96f6fe3%2Fckwaxr_processed.png&w=3840&q=75)
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